NEW YORK (CNNMoney.com) — Ford Motor reported record third-quarter net income Tuesday, far exceeding analyst expectations and continuing a surge in momentum for the recovering automaker.
Dearborn, Mich.-based Ford (F, Fortune 500) posted net income of $1.7 billion, or 43 cents per share, up from $997 million, or 29 cents a share, a year earlier. Analysts surveyed by Thomson Reuters expected Ford to report a 38-cent-a-share profit.
Ford’s previous best third-quarter net income was $1.1 billion reported in 1997.
The automaker cited a strong product line, momentum in North America and continued success at Ford Credit as areas of growth.
